Shares of Singapore-listed palm oil firm First Resources (FRLD.SI) fell as much as 8.1% on Thursday after its main shareholder, Eight Capital, sold 75 million shares of the company at $1.48 each, raising $111 million.
At 9:02 a.m., First Resources shares were down 7.5% at $1.49 on a volume of 97.7 million shares.
Singapore-listed shipbuilder Cosco Corp (COSC.SI) has requested a trading halt on Thursday, pending the release of an announcement.
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At least two more traders have left Singapore-listed Noble Group (NOBG.SI) from its London energy desk this year, oil trading sources said on Friday.
Noble did not respond to a request for comment.
At 0251 GMT, NOL shares were down 2.1% at $2.33 on a volume of 2.6 million shares.
Over 28.9 million shares had changed hands by 0252 GMT.
Singapore-listed Chinese shipbuilders paring gains after solid intraday run-up prompted by China’s proposed U$5 billion ($6.6 billion) und to help Greek shipping companies buy Chinese vessels, says Dow Jones.
Cosco (F83.SG) +1.7% at $1.84 vs $1.87 earlier, JES International (EG0.SG) +4.3% at $0.365 vs $0.38, Yangzijiang (BS6.SG) +0.6% at $1.79 vs $1.82 at 4:10 p.m.
Singapore-listed Chinese shipbuilders may get boost as China unveils US$5 billion ($6.6 billion) fund to help Greek shipping companies buy Chinese vessels, says Dow Jones.
Move announced over weekend by Chinese Premier Wen Jiabao, deemed particularly beneficial for Cosco (F83.SG), Yangzijiang (BS6.SG), JES International (EG0.SG) as contracts from Greece, Europe make up significant part of their orderbooks.
Shares of Singapore-listed developers with China operations mostly down, but decline in line with broad market pullback, not accompanied by heavy volume, suggesting investors not overly concerned about impact of Beijing’s latest measures to rein in home prices, says Dow Jones.
View backed by current gains in shares of China-listed developers.
Shares of Singapore-listed C&O Pharmaceutical Technology fell as much as 4% to $0.475 today as investors took profit after the Chinese firm announced strong quarterly earnings. Stock now trading –2% at $0.485.
Over 8.3 million shares had changed hands by 9:55 a.m.
More than 5.5 million shares had changed hands and the shares were trading at $1.54 at 11:09 a.m before softening to $1.49 now. The benchmark Straits Times Index was down 0.4%.
Singapore-listed China shares among best performers on SGX, with FTSE ST China Index +2.2% vs STI +1.3%, in response to Beijing’s call for greater yuan flexibility, says Dow Jones.
“The RMB policy move is mildly positive for S-chips in general as it translates to higher EPS in SGD terms,” says DBS Vickers; noting Chinese companies dependent on domestic demand should gain from lower import costs as they sell their products in China.
Shares of Singapore-listed developers with China exposure notably higher, tracking rebound by peers in HK and Shanghai, on hopes Beijing will be less aggressive in seeking to rein in home prices, according to Dow Jones.
Singapore-listed property developers with significant China exposure extend recent weakness as China’s latest bank lending curbs reinforce expectations Beijing not done yet with efforts to rein in home prices and cool economy, according to Dow Jones.
Shares of Singapore-listed developers expected to lag broad market performance given their sensitivity to interest rate movements, says DBS Vickers, according to Dow Jones Newswires.
ARA Asset Management (ARA SP), one of two Singapore-listed real estate investment trusts controlled by Hong Kong billionaire Li Ka-shing jumped 6.6% to 72.5 cents. The company said it is acquiring the Suntec Singapore International Convention & Exhibition Centre for $235 million.
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